The plan aims at enhancing the competitiveness of a number of national sectors of the economy and providing employment opportunities for Saudi male and female youths, he was quoted as saying by Saudi Press Agency.

The announcement came during Dr Al-Qasabi's meeting with businessmen and women in Riyadh Chamber of Commerce today.

He stressed that the plan confirms the confidence of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in the private sector as an important key partner in development.

The supportive initiatives will be launched at end of the first quarter of 2018, the minister said.